argenex (NASDAQ:ARGX) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of argenex (NASDAQ:ARGX) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

ARGX has been the subject of several other reports. Stifel Nicolaus increased their price objective on shares of argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Piper Sandler upped their price target on shares of argenex from $820.00 to $930.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. raised their price target on shares of argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Royal Bank Of Canada lifted their price objective on shares of argenex from $860.00 to $925.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley boosted their price objective on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, argenex presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Price Performance

Shares of ARGX stock opened at $814.74 on Thursday. The stock’s fifty day moving average price is $859.47 and its 200 day moving average price is $771.27. argenex has a 1-year low of $510.05 and a 1-year high of $934.62. The company has a market cap of $50.42 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. As a group, equities research analysts anticipate that argenex will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Wellington Management Group LLP raised its stake in shares of argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after buying an additional 324,653 shares during the last quarter. Two Sigma Investments LP grew its holdings in argenex by 570.3% during the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after acquiring an additional 250,278 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after acquiring an additional 158,476 shares during the period. Franklin Resources Inc. raised its position in argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after acquiring an additional 142,606 shares in the last quarter. Finally, Woodline Partners LP raised its position in argenex by 320.8% during the third quarter. Woodline Partners LP now owns 169,476 shares of the company’s stock valued at $124,999,000 after acquiring an additional 129,205 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Company Profile

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.